Depends on the amount of separation between you and that person (i.e. do you live in the same building, but separate apartments, or does your dorm have a suite-like arrangement where you all have separate rooms, etc.).

But generally, I'd just say it will lead to awkwardness, drama, etc. So... no.

Don't ask that question around here. There is a whole movement of Leykis 101 wannabes around here who yell out the "hit it and quit it" line every chance they get to any guy that mentions anything about a woman.